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 what is meant by the term globalisation? describe the three type of movements or flows within international economicexchange??
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Dear Student,

Globalisation can be defined as the integration between countries through foreign trade and foreign investments. This interconnectedness across countries has the following dimensions — cultural, political, social and economic.

In globalisation, there is movement of goods, services, investments and technology.One more way in which the countries can be connected is through the movement of people between countries

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Globalization

 

Globalization refers to the increasingly global relationships of culture, people and economic activity. Most often, it refers to economics: the global distribution of the production of goods and services, through reduction of barriers to international trade such as tariffs, export fees, and import quotas. Globalization accompanied and allegedly contributed to economic growth in developed and developing countries through increased specialization and the principle of comparative advantageThe term can also refer to the transnational circulation of ideas, languages, andpopular culture.

Opponents alleged that globalization's benefits have been overstated and its costs underestimated. Among other points, they argued that it decreased inter-cultural contact while increasing the possibility of international and intra-national conflict

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